Fairfax, Va.-based business software maker 3Pillar Global has received a new $12 million round of capital from existing shareholders.
Private equity firm NewSpring Capital led this Series A preferred stock round and has raised more than $950 million of committed capital for companies, 3Pillar said Thursday.
CEO David DeWolf said the company has achieved a 57 percent compounded annual growth rate over the last seven years.
DeWolf will continue to lead 3Pillar as CEO and the company’s management team and corporate organization structure will remain unchanged.
“Partnering with the right investor is the next logical step as we continue to scale and expand the business,” DeWolf said.